FEATURED COMPANIES

AbstractThe ratings on the banking operations of Nordic financial services group Nordea reflect the group's consistent strategy, which has resulted in successful integration; Nordea group's relatively solid earnings from its core banking operations; and well-diversified funding profile. The group's capitalization is adequate given its current risk profile, in Standard & Poor's Ratings Services' view. We believe Nordea is well positioned to benefit from a normalization of interest rates over the next two years as the current economic expansion in Sweden, Norway, and Finland continues. However, for the group to materially increase its earnings power, a trend shift in corporate and public-sector credit demand would need to occur, in our view. Private and public investment activities are likely to remain subdued...

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance
programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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